"We declare our first goal to be for every person to be dynamically involved in the process of freeing himself or herself from every form of domination or oppression so that each man or woman will have the opportunity to develop as a whole person in relationship with others".
- Papua New GuineaNational Goals and Directive Principles
Monday, 3 September 2012
Oil Search extends PNG's only gas sales deal
Hides: Oil Search has extended an arrangement supplying gas from the Hides field to the Porgera gold mine in Papua New Guinea
Russell Searancke; 03 September 2012 03:05 GMT
Papua New Guinea's Oil Search has signed an extension of the country's only gas sales agreement between itself and the owners of the Porgera gold mine.
Oil Search has been supplying an average of 12.8 million cubic feet per day of gas for 20 years from the Hides field to the Porgera facility.
PNG has significant gas reserves, but this is the only gas sales arrangement in the country because it does not have a developed domestic gas market.
Oil Search said today the extension covered 56 billion cubic feet of gas (including associated liquids) until the earlier of December 2021 or when the maximum sales volume has been reached.
Oil Search said it had signed a parallel agreement with the owners of the Hides field to access the extra 56 bcf.
The Hides field will be the main feedstock for the PNG liquefied natural gas project which is under construction.
"LNG Watch is trying to find out who is the owner of Hides field and does Oil Search share the benefit with Exxon or not. If not, what infrastructure development has Oil Search brought to the local landowners at Hides for the last twenty years."